Cooperative Credit Associations Act

Marginal note:Proposals

• 152 (1) At an annual meeting of an association, any member may

  • (a) submit to the association notice of any matter that the member proposes to raise at the meeting; and

  • (b) discuss at the meeting any matter in respect of which the member would have been entitled to submit a proposal.

• Marginal note:Notice of proposal

  (2) Any proposal of a member submitted for consideration at a meeting must be attached to the notice of the meeting, and, if so requested by the member, a statement by the member of not more than two hundred words in support of the proposal and the name and address of the member must also be so attached.

• Marginal note:Conditions precedent for proposals

  (3) An association is not required to comply with subsection (2) if

  • (a) the proposal is not submitted to the association at least ninety days before the anniversary date of the previous annual meeting;

  • (b) it clearly appears that the proposal is submitted primarily for the purpose of enforcing a personal claim or redressing a personal grievance against the association or its directors, officers, members or security holders, or primarily for the purpose of promoting general economic, political, racial, religious, social or similar causes;

  • (c) the association, at the member’s request, attached to the notice of a meeting a proposal relating to a meeting held within two years preceding the receipt of the request, and the member failed to present the proposal at the meeting;

  • (d) substantially the same proposal was submitted to members in a notice of a meeting relating to a meeting held within two years preceding the receipt of the member’s request and the proposal was defeated; or

  • (e) the rights conferred by subsections (1) and (2) are being abused to secure publicity.

• Marginal note:Immunity for proposal and statement

  (4) No association or person acting on behalf of an association incurs any liability by reason only of circulating a proposal or statement in compliance with section 152.